Informa Reports Double-Digit Revenue Growth, Offers $1.5 Billion for Ascential
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With half-year revenues hitting $2.14 billion, Informa is riding a wave of growth. The B2B events and digital services giant reported impressive half-year results for 2024, boasting an 18.8% increase in underlying operating profit, an 11% revenue boost, and a 10% hike in dividends. Informa has now upped its full-year guidance, targeting an adjusted operating profit of up to $1.29 billion.
"Informa is kicking off 2024 with the same momentum we saw at the end of 2023. We're growing, expanding internationally, and continuously developing our portfolio, which gives us increasing confidence in our distinctive products, services, and brands," said Stephen A. Carter, Informa PLC Group Chief Executive, in video presentation on July 24.
Adding to the excitement, Informa made a $1.5 billion bid for Ascential plc, the producer of prominent industry conferences like the Cannes Lions Festival and Money 20/20. This offer represents a 53% premium to Ascential's closing price on July 22, with a deadline for acceptance set for August 20.
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Informa's diverse portfolio spans more than 200 brands in markets like pharmaceuticals, beauty, and construction through Informa Markets, and more than 400 brands in sectors like biotechnology and finance through Informa Connect (owner of TSNN). The company is forecasting double-digit growth for 2024, driven by increased demand for live B2B experiences and strategic acquisitions, including Tarsus, HIMSS, Winsight, and TechTarget in the past 18 months.
"With the world rapidly digitizing, our brands and market positions are becoming even more valuable," said Carter. "This is propelling Informa into a faster growth lane, with strong performance, expansion, and returns. Our full-year target is up to $1.5 billion of adjusted operating profit, underscored by today's offer for Ascential plc."
Informa's strong performance is reflected in its robust growth metrics, with double-digit increases in revenues, operating profit, and free cash flow for the first half of 2024. The company is well-positioned for continued success, driven by its strategic focus on customer experience and value-added digital services.
Related: Informa Reports Double-Digit Revenue Growth in 2023 and Merger With TechTarget
Related: 5 Takeaways From Informa’s Trading Update
Related: Market Update: Informa On Target For High Single-Digit Growth in 2024
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